Download or read book The Legal Framework Applicable to the Single Supervisory Mechanism written by Giovanni Bassani and published by Kluwer Law International B.V.. This book was released on 2019-02-11 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this innovative book a leading expert directly involved in the development and implementation of the framework compellingly demonstrates the necessity of removing differences in banking legislation across national borders within the Banking Union. The author analyses all the cases where the European Central Bank (ECB) is required to apply national legislation in accordance with the country of establishment of the credit institutions under its direct supervision within the Single Supervisory Mechanism (SSM). Drawing on the case law of the European Court of Justice concerning the transposition of EU Directives the book also develops an analytical methodology to assess the derivation of national legislation from EU law with application to several concrete cases. In an in-depth analysis of the complex legal environment in which the ECB, as prudential supervisory authority, has been operating, the author thoroughly answers the following questions: – What are the supervisory tasks and powers of the ECB in the micro and macroprudential spheres? – When is the ECB required to apply national legislation? – What are the 'direct' and the 'indirect' supervisory powers of the ECB vis-à-vis significant supervised entities? – What are the options and discretions available in EU law? – What are the most important prudential options the ECB has exercised for significant supervised entities? – What are the main legal obstacles to the establishment of a truly single supervisory jurisdiction within the Euroarea with actual fungibility of capital and liquidity for cross-border banking groups? The legal analysis in this book supports, with great authority, the demands for a leap forward in the full harmonisation of key prudential requirements within the Banking Union. Legal and banking practitioners, officials in national and European authorities, banking law scholars and policymakers will benefit enormously from the lessons it contains for the way forward of the Banking Union and, more generally, the future of the European Union itself.

Download or read book Legal Framework for Banking Supervision written by and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: European Central Bank (ECB) presents this updated digital compilation of Union legal acts on banking supervision. The digital compilation contains legal acts on banking supervision focusing primarily on the acts the ECB has adopted since the inception of the Single Supervisory Mechanism (SSM) in 2014. The compilation consists of three volumes. The fundamentals of the SSM are included in Volume I. This volume consists of Council Regulation (EU) No 1024/2013 conferring specific tasks on the ECB concerning policies relating to the prudential supervision of credit institutions, which establishes the SSM and lays down several general rules and principles, and Regulation (EU) No 468/2014 establishing the framework for cooperation within the SSM between the ECB and the national competent authorities and with national designated authorities (the 'SSM Framework Regulation'), which lays down more detailed rules with regard to the actual functioning of the SSM. The Statute of the European System of Central Banks and of the European Central Bank also contains a number of institutional provisions that apply to the ECB when acting in its supervisory capacity.

Download or read book The enforcement dimension of the single supervisory mechanism written by SILVIA ALLEGREZZA and published by CEDAM. This book was released on 2020-09-14 with total page 638 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the sheer complexity of the SSM’s institutional design adopting an comprehensive approach to banking supervision. At its core, this work examines the tangible mechanisms of prudential regulation or supervision both at the European and national levels, offering a comparative analysis of ten national systems. Reflecting the results of an intensive, four-year research project that saw the collaboration of academics and practitioners, it addresses two interrelated issues. It investigates the efficacy of the shared national- and EU-level enforcement system the EU introduced in reaction to the financial and banking crisis.Secondly, it scrutinizes the role that criminal law can play in sanctioning the breaches to banking regulation.

Download or read book The Single Supervisory Mechanism SSM written by Christos V. Gortsos and published by . This book was released on 2015 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Single Supervisory Mechanism written by Klaus Lackhoff and published by Beck/Hart. This book was released on 2017-07-13 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Single Supervisory Mechanism (SSM) will be considered as a significant category in the Eurozone as of November 2014. Thus, the European banking architecture is fundamentally changed and adapted to the requirements of a European banking union. Contents: - Purpose of the SSM and Basic Functioning - Some Fundamental Questions. - Governance Structure and Decision Making - The Applicable Nouns and Procedural Law - Determining the Significance of Credit Institutions and the Endowment of the ECB - Tasks and Powers Relating to all Credit Institutions - Tasks and Powers Relating to the On-Going Supervision of Significant Credit Institutions - Enforcement and Sanctioning Powers - Close Cooperation - Supervisory Fees - Contesting ECB supervisory decisions in front of the ABoR - Contesting ECB - Non-contractual liability of the ECB for ECB supervisory decisions - SSM Regulation (SWOP) and the so-called Framework Regulation of the European Central Bank (FR) are the legal basis for the institutional and operational architecture of the SSM.

Download or read book On the Scope and Limits of the Application of National Law by the European Central Bank Within the Single Supervisory Mechanism written by Florin Coman-Kund and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation 1024/2013 has established the Single Supervisory Mechanism (SSM) as a milestone towards the establishment of a full-fledged European Banking Union (EBU). This mechanism represents an unprecedented centralization in the area of financial market supervision in the internal market by shifting powers from national supervisory authorities to the European Central Bank (ECB), to be exercised primarily by its newly established Supervisory Board. In principle, the ECB is in charge of direct supervision of significant credit institutions, whereas the competent national supervisors remain in charge of all other credit institutions. Yet it can be observed as a rather peculiar feature of the SSM model that the ECB has the duty to carry out its tasks under EU law by directly applying national legislation. More specifically, Article 4(3) of the SSM Regulation compels the ECB to apply both national legislation implementing relevant EU directives and national rules exercising options granted by EU regulations. This article examines the application by the ECB of national rules in fulfilling its tasks under the SSM Regulation by focusing on a number of salient legal challenges posed by these novel regulatory arrangements in the EU. For this purpose, the application of different national implementing rules by the ECB is scrutinized. Here the analysis focuses on the difficulties that a supranational authority such as the ECB may face in interpreting, applying, and enforcing the national rules of different member states, as well as the implications these difficulties may have for the coherence of the European financial regulatory and supervisory system that was one of the main goals of the establishment of the EBU. Next, the challenges arising in terms of legal review and protection against ECB measures that are based on the application of national law are analyzed. In particular, issues pertaining to access to justice as regards the competent court(s) and the law applicable to disputes involving the application of national legislation by the ECB are investigated.

Download or read book A Banking Union for the Euro Area written by Rishi Goyal and published by International Monetary Fund. This book was released on 2013-02-12 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.

Download or read book Effective Legal Protection in Banking Supervision written by LAURA. WISSINK and published by Europa Law Publishing. This book was released on 2021-05-12 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of the effectiveness of legal protection in the composite procedures in place within the Single Supervisory Mechanism (SSM), established to ensure an effective prudential banking supervision within the euro area. This system, in which the European Central Bank and national prudential banking supervisors closely cooperate, results in a far-reaching shared administration entailing supervisory decisions based on complex composite administrative procedures which involve both EU and national legal orders. The current system of legal protection seems not yet fully-fledged to the reality of increasingly far-reaching forms of shared administration for the implementation of EU law. This book addresses the tension between ensuring effective supervision, by means of a shared administration, and ensuring effective legal protection in composite administrative procedures. To arrive at a meaningful discussion of the SSM's far-reaching shared administration, it categorizes the composite procedures in place within the SSM in such a way that other shared administrations in fields of law such as the European Structural Funds, fisheries, and the Single Resolut

Download or read book The Palgrave Handbook of European Banking Union Law written by Mario P. Chiti and published by Springer. This book was released on 2019-05-16 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook analyses the European Banking Union legal framework focusing on legislative acts (regulations and directives), case law and the resolution procedures. In addition, it will pay attention to the division of responsibilities between the ECB and the national authorities, with special attention to the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). To give a more complete picture, the book will also cover the implementation of European Deposit Insurance Scheme (so called third pillar) still under construction, and appeal to academics, researchers and students of banking and financial law.

Download or read book The Single Resolution Mechanism written by Robby Houben and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes stock after a year of application of the SRM and examines the situation from various perspectives: the perspective of the SRB, the NRA, the supervised bank and judicial protection. Special attention is given to the division of power between the RB and the NRA and the impact on the supervised bank, the relationship and links between the SRM and the SSM and the query whether the right balance between national and supranational powers has been struck, also in view of the principle of subsidiarity.

Download or read book Banking Supervision and Criminal Investigation written by Giulia Lasagni and published by Springer Nature. This book was released on 2019-08-22 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the last financial crisis, on both sides of the Atlantic banking supervisors were given new supervisory and enforcement powers, which are often of a substantially punitive-criminal nature. In Europe in particular, the establishment of the Single Supervisory Mechanism within the European Central Bank substantially increased centralised investigatory and sanctioning powers. This major innovation, together with the development of forms of real-time monitoring of banking (often digital) records, challenges traditional banking criminal investigations in their national-based and analogue dimension.The book offers a comprehensive account and perspective analysis of the interactions between the criminal and administrative nature of such new powers, highlighting their “punitive” overall nature and their impact on fundamental rights. Covering both the US and the EU regulatory frameworks, it presents unprecedented, trans-systemic research between criminal law and procedure, and between regulatory and administrative law, at the international, European and national level.The book also includes a rich and detailed selection of case law from the US and the European supreme courts, with a specific focus on CJEU and ECtHR decisions.

Download or read book European Central Banking Law written by Christos V. Gortsos and published by Springer Nature. This book was released on 2020-02-14 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of European Union (EU) central banking law, a field of EU economic law which emerged in the late 1990s and has developed rapidly ever since. European central banking law pertains to the rules governing the functions, operation, tasks and powers of the European Central Bank (ECB) and the national central banks (NCBs) of EU Member States. Systematically presenting and analysing the role of the ECB as a monetary and banking supervisory authority, the book discusses its changing and developing responsibilities following the financial crisis of 2007-2009 and the ongoing fiscal crisis in the euro area. The book also highlights the ECB’s significant role in relation to the resolution of credit institutions, as well as, conversely, its relatively limited role in respect of last-resort lending to EU credit institutions exposed to liquidity risk. The related tasks and powers of the ECB are presented in light of its interaction with NCBs within the Eurosystem, the European System of Financial Supervision, the Single Supervisory System and the Single Resolution Mechanism. Providing a detailed analysis of the legal framework governing (mainly) the ECB’s monetary policy and other basic tasks within the Eurosystem and its specific tasks in relation to banking supervision and macro-prudential financial oversight, this comprehensive book will be of interest to researchers, practitioners and students in the fields of EU monetary and banking law.

Download or read book The Single Supervisory Mechanism Panacea Or Quack Banking Regulation written by Tobias Tröger and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Regulating and Supervising European Financial Markets written by Mads Andenas and published by Springer. This book was released on 2016-08-16 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book analyses the institutions of the European financial market supervision and the challenges of financial markets. The current European supervisory structure for financial markets represents a major development in European supervisory history. Its operation however has to be explored and analysed critically. Has it gone far enough to provide a sufficiently comprehensive and resilient system to reduce or mitigate systemic risks and handle financial crises? Some claim it has gone too far already. Fresh and rigorous critical legal and economic analysis from an independent scholarly perspective are needed to assess whether the institutional design of the European supervisory architecture has proved itself to be an efficient and effective model. This book discusses many dimensions of the structure and workings of the European system from various angles providing different dimensions. The book makes an important contribution to the limited literature on financial market supervision.

Download or read book Organisation of Banking Regulation written by Alexander Wellerdt and published by Springer. This book was released on 2015-03-31 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book illustrates the interaction of banking regulators and discusses with it related legal and economic challenges. First, the importance of administrative organisations for the implementation of regulatory law towards banks and financial institutions is shown. On this basis five model types of administrative organisations in the field of banking regulation are derived. Thereby, banking regulators can be classified due to their influence on regulatory decisions. Their influence runs from preparation across enforcement to control of regulatory decisions. In particular, the cooperation of the European Central Bank with national banking regulators is analysed. Finally, the main legal and economic arguments of Banking Regulation in the Economic and Monetary Union are discussed.

Download or read book European Banking Supervision written by André Sapir and published by . This book was released on 2016-06-14 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: European banking supervision, also known as the Single Supervisory Mechanism, is the first and arguably the main component of European banking union. In late 2014, the European Central Bank became the supervisor for the region's largest banking groups; the ECB also oversees the supervision by national authorities of smaller banks. This Blueprint is the first in-depth study of how this ground-breaking reform is working in practice. Despite teething troubles and occasional misjudgements, this assessment finds that overall European banking supervision has been effective, demanding and broadly fair, at least for the banks under the ECB's direct watch. Even so, achieving a truly single market in banking services will require more time, further supervisory initiatives and new Europe-wide regulatory and legislative steps.

Download or read book The Power of the ECB to Impose Administrative Penalties as a Supervisory Authority written by Christos Gortsos and published by . This book was released on 2015 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this paper is to provide an analysis of the power of the ECB to impose administrative penalties as a supervisory authority within the context of the 'Single Supervisory Mechanism', which is a major building block of the European Banking Union. It is structured in three (3) sections. Section 1 provides a general overview of the specific supervisory tasks conferred upon the ECB in relation to credit institutions and other supervised entities incorporated in participating Member States, as well as its investigatory and specific supervisory powers towards the achievement of the aim of these tasks. Section 2 outlines, in particular, the legal framework pertaining to the ECB's sanction powers as a supervisory authority in case of breaches of regulatory requirements under EU banking law, as well as those under its own legal acts (Regulations and supervisory Decisions), and Section 3 contains some concluding remarks.